Use the Following to Answer Questions

question 78

Multiple Choice

Use the following to answer questions :
Exhibit: AD-AS Shifts

-(Exhibit: AD-AS Shifts) Starting from long-run equilibrium at A with output equal to Y and the price level equal to P₁,a cost-push inflation would be represented by a shift from:

• A) AD₁ to AD₂.
• B) AD₁ to AD₃.
• C) AS₁ to AS₂.
• D) AS₁ to AS₃.

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